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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
Friday, 19 July 13
U.S.COAL PRODUCTION TOTALED APPROXIMATELY 19.60 MMST WEEK ENDED JULY 13
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.60 million short tons (mmst) of ...
Friday, 19 July 13
TNPL IS LOOKING FOR 300 K MT OF 6000 GAD COAL FOR FIVE MONTH
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 5 shipments about 60,0 ...
Thursday, 18 July 13
3RD ANNUAL FLOATING TERMINALS, INDONESIA
Commercial applications for offshore transshipment facilities
Floating Terminal solutions are increasingly being deployed by miners, independent ...
Thursday, 18 July 13
THE CAPE MARKET APPEARS TO BE HOLDING FIRM - FEARNLEYS AS
Handy
In the Pacific, market maintained similar levels during the week. There is several Indo coal orders in the market, ships passing Singapore fi ...
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- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Electricity Authority, New Zealand
- The University of Queensland
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
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